The Manufacturers Life Insurance Company Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

The Manufacturers Life Insurance Company acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 74,750 shares of the company’s stock, valued at approximately $8,751,000.

A number of other large investors also recently modified their holdings of MIRM. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $44,000. Cullen Frost Bankers Inc. bought a new position in Mirum Pharmaceuticals during the 4th quarter valued at $30,000. Eurizon Capital SGR S.p.A. bought a new position in Mirum Pharmaceuticals during the 4th quarter valued at $32,000. CIBC Private Wealth Group LLC purchased a new position in Mirum Pharmaceuticals during the 4th quarter worth $32,000. Finally, State of Wyoming purchased a new position in Mirum Pharmaceuticals during the 2nd quarter worth $52,000.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $97.46 on Friday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of -6.70 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. Mirum Pharmaceuticals, Inc. has a 52 week low of $63.23 and a 52 week high of $130.00. The firm’s 50-day simple moving average is $110.63 and its two-hundred day simple moving average is $101.79.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis. As a group, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MIRM. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Robert W. Baird set a $123.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. TD Cowen decreased their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. HC Wainwright decreased their price objective on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the transaction, the senior vice president owned 1,274 shares of the company’s stock, valued at $127,400. This represents a 96.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer owned 36,355 shares of the company’s stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 133,156 shares of company stock valued at $13,763,562. Company insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.